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Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more

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This captivating article provides an overview of recent events in the cryptocurrency world. First, it highlights the controversial dismissal of a Uniswap developer, known as AzFlin, who allegedly created a memecoin called FRENS and quickly pulled the rug, leading to his termination. Despite his claims that no rug pull occurred, the community seems divided on the issue. Next, the article discusses an ongoing feud between Meta CEO Mark Zuckerberg and Tesla CEO Elon Musk over a potential cage fight. Zuckerberg accuses Musk of making excuses and delaying any concrete plans. Lastly, the article mentions that former US President Donald Trump owns a significant amount of Ethereum and has invested in nonfungible tokens, despite his past skepticism towards cryptocurrencies. In addition to these stories, the article touches on other noteworthy news in the crypto space.

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Uniswap dev sacked for alleged rug

Uniswap dev loses job, was it worth it?

A Uniswap developer known as “AzFlin” has been fired by Uniswap Labs founder Hayden Adams for allegedly creating a memecoin called FRENS and rug pulling it hours later, resulting in a loss of 14 wETH (worth $25,800). AzFlin developed and deployed the FrensTech token on Coinbase’s new layer 2 blockchain Base on August 12, and then proceeded to sell the tokens raised from the liquidity shortly after. Uniswap Labs publicly confirmed the sacking of AzFlin, emphasizing that such behavior is not supported or condoned at the company.

AzFlin claims no rug pull

AzFlin, the Uniswap developer in question, has denied committing a rug pull. They assert that they bought the $FRENS tokens used to provide liquidity with their own money from the dev wallet, giving them the freedom to do as they please with the tokens. According to AzFlin, the accusations against them are outrageous. However, not everyone is convinced by their claims, with some applauding Hayden Adams’ decision to terminate AzFlin.

Zuckerberg calls out Musk for dodging cage fight

Zuckerberg accuses Musk of making excuses

Meta CEO Mark Zuckerberg has called out Elon Musk for dodging their potential cage fight. Zuckerberg accuses Musk of making excuses and dragging his feet on setting a solid date for the fight. In an Aug. 13 post on Threads, Zuckerberg explains that Musk’s lack of seriousness in confirming a date and his suggestion of doing a practice round in Zuckerberg’s backyard indicate that Musk is not genuinely interested in the fight.

Zuckerberg ready for a fight

Despite Musk’s reluctance, Zuckerberg states that he will be ready for a fight whenever Musk becomes serious about setting a real date and organizing an official event. In the meantime, Zuckerberg intends to focus on competing with those who take the sport seriously.

Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more

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Donald Trump holds Ethereum and NFTs

Trump owns $250,001 to $500,000 in Ether

Financial records reveal that former United States President Donald Trump holds between $250,001 to $500,000 worth of Ether (ETH). The statement filed to the United States Office of Government Ethics indicates that one of Trump’s investments is a cryptocurrency wallet specifically for Ethereum.

Possible link to NFT collections

It is possible that Trump’s investment in Ether is connected to his several non-fungible token (NFT) collections, which have been released in the market multiple times between 2022 and 2023. According to the financial statement, Trump’s NFT venture is expected to earn between $100,000 and $1 million.

Trump’s skepticism towards the industry

Despite his investments in cryptocurrency and NFTs, Trump has expressed skepticism towards the industry in the past. He has referred to Bitcoin as a “scam” and labeled cryptocurrencies as “potentially a disaster waiting to happen.” Nevertheless, Trump is once again running for the presidency in the upcoming 2024 election.

Steadefi hacker goes mixing

Hacker transfers 100 ETH to Tornado Cash

The exploiter behind the Steadefi hack has transferred 100 ETH (worth approximately $185,000) to the cryptocurrency mixing protocol Tornado Cash. The hacker still holds $786,000 (424 ETH) connected to the Steadefi exploit that took place on Aug. 7.

Hacker still holds $786,000 connected to exploit

According to blockchain security firm CertiK, the hacker has not yet cashed out the remaining stolen funds, which amount to $786,000. The Steadefi hack resulted in a drain of $334,000 directly from the protocol, with overall losses estimated to be over $1.1 million.

Tornado Cash used to obfuscate money trail

Tornado Cash has served as a tool for hackers attempting to obfuscate the money trail and cash out stolen funds. Interestingly, on Aug. 8, 2022, the United States Office of Foreign Asset Control (OFAC) sanctioned Ethereum and USD Coin (USDC) addresses associated with Tornado Cash.

Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more

Senator Lummis supports Coinbase against SEC

Lummis files amicus brief in support of Coinbase

United States Senator Cynthia Lummis has filed an amicus brief in support of Coinbase’s motion to dismiss its lawsuit against the U.S. Securities and Exchange Commission (SEC). Lummis believes that the SEC is seeking too much influence over the cryptocurrency sector, and Congress should carefully consider the regulations in this emerging space.

Claims SEC is seeking too much influence

In her filing, Lummis argues that the SEC’s actions are attempting to obtain “primary influence” over the cryptocurrency sector, which she believes is an overreach of the agency’s authority. Lummis highlights the need for balanced and thoughtful regulation that allows innovation to thrive in the crypto industry.

Curve Finance intends to reimburse users after hack

Curve Finance to compensate users

Curve Finance, a decentralized finance platform, has announced its intention to reimburse users affected by a recent hack. The hack resulted in $62 million in losses on July 30. So far, the platform has managed to retrieve 79% of the funds, and it plans to compensate the remaining impacted users.

79% of funds already retrieved

Curve Finance’s efforts to retrieve the stolen funds have been successful, with 79% of the total amount already recovered. This demonstrates the platform’s commitment to its users and its determination to make them whole again.

Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more

Girl Gone Crypto finds ‘BREAKING’ crypto news tweets boring

It seems that ‘BREAKING’ crypto news tweets are becoming mundane for Girl Gone Crypto. As a prominent figure in the crypto space, she finds these tweets to be monotonous and uninteresting. While the headline may suggest controversy or excitement, Girl Gone Crypto believes that the constant use of ‘BREAKING’ in crypto news tweets has lost its impact.

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